STOCKHOLM, Sweden—The boards of Sony and Ericsson have both approved their mobile-phone joint venture, first announced in April.
The joint company, Sony Ericsson Mobile Communications, is slated to begin operations on 1 October, subject to necessary regulatory approvals. The board of the newly formed company will include: Kurt Hellstrom, president and chief executive officer (CEO) of Ericsson; Kunitake Ando, president and chief operating officer (COO) of Sony; Sten Fornell, executive vice president and chief financial officer (CFO) of Ericsson; Teruhisa Tokunaka, executive deputy president and CFO of Sony; Morgan Bengtsson, president of Ericsson Japan; Otto Zich, chairman and CEO of Sony Europe; Katsumi Ihara, president of Sony Ericsson Mobile Communications; and Jan Wareby, executive vice president of Sony Ericsson Mobile Communications.
Headquarters will be in London, and the companies anticipate 3,500 initial employees.
